B2B Trading Concepts Quiz
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B2B Trading Concepts Quiz

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Questions and Answers

What is the primary function of an online platform in the context of business transactions?

An online platform serves as a place where demand and supply meet electronically.

In a B2B transaction, which parties are typically involved?

B2B transactions typically involve businesses such as manufacturers, wholesalers, and retailers.

What is the significance of a credit note in business transactions?

A credit note reduces the amount owed to a supplier by the buyer.

Explain what ACH payment refers to in the context of electronic transactions.

<p>ACH payment refers to an electronic payment made from one bank to another.</p> Signup and view all the answers

Describe the California Redemption Value (CRV) and its purpose.

<p>CRV is a regulatory fee paid on recyclable beverage containers in California, designed to encourage recycling.</p> Signup and view all the answers

What does B2B stand for and give an example of its application?

<p>B2B stands for Business-to-Business. An example is a transaction between a manufacturer and a wholesaler.</p> Signup and view all the answers

In what way does a pallet facilitate the delivery of products?

<p>A pallet allows for bulk quantities of products to be arranged and delivered efficiently.</p> Signup and view all the answers

What is a credit application and why is it important for businesses?

<p>A credit application is a form used to assess a potential customer's creditworthiness. It is important for managing financial risk in transactions.</p> Signup and view all the answers

Define ACH payment and mention its significance in modern transactions.

<p>ACH payment refers to an electronic transfer of funds between banks. It is significant because it streamlines and simplifies payment processes.</p> Signup and view all the answers

What is an open balance and why do businesses track it?

<p>An open balance is the total value of outstanding invoices or credit notes. Businesses track it to manage cash flow and financial obligations.</p> Signup and view all the answers

Study Notes

Online Platform

  • A place where buyers and sellers connect electronically.

B2B

  • Stands for Business-to-Business
  • Describes transactions between businesses, such as manufacturers, wholesalers, and retailers.

Brodline

  • Refers to companies that deal in large quantities of various products.
  • They typically offer a wide range of merchandise categories.

Pallet

  • Represents a bulk quantity of a particular product.
  • These products are arranged and delivered on a pallet.

Credit Note

  • A financial document issued by suppliers to reduce the amount owed by buyers.

Open Balance

  • The total value of outstanding invoices or credit notes.

Payment Methods

  • CC: Credit Card
  • COD: Cash on Delivery

Credit Application

  • A form or online e-form used to collect information about a potential customer's creditworthiness.

ACH Payment

  • An electronic payment made from one bank account to another.

10% Bank Authorization

  • An adjustment made for weight discrepancies, where only the amount in the invoice is deducted.

CRV (US)

  • Stands for California Redemption Value, also known as California Refund Value.
  • A regulatory fee paid on recyclable beverage containers in California.
  • The CRV refund is: 5 cents for containers less than 24 ounces, 10 cents for containers 24 ounces or larger.

Online Platform

  • A digital space where businesses can connect to buy or sell goods or services.

B2B

  • Stands for "Business-to-Business."
  • Describes transactions between different businesses, like a manufacturer and wholesaler.

Brodline

  • A company that focuses on selling large quantities of different products.

Pallet

  • A large quantity of a specific product that is delivered on a pallet.

Credit Note

  • Document issued by suppliers to reduce the amount owed to them by buyers.

Open Balance

  • Represents all outstanding invoices or credit notes.

Payment Methods

  • CC: Credit card.
  • COD: Cash on delivery.

Credit Application

  • A form used by businesses to assess a potential customer's creditworthiness.

ACH Payment

  • Electronic payment made directly from one bank account to another.

10% Bank Authorization

  • A process to adjust weight discrepancies where only the invoiced amount is deducted.

CRV (California Redemption Value)

  • A regulatory fee paid on recyclable beverage containers in California.
  • Refunds are: 5 cents for containers under 24 ounces, and 10 cents for containers 24 ounces or larger.

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Acronyms & Definitions PDF

Description

Test your knowledge on key concepts in B2B transactions and online platforms. This quiz covers topics such as credit notes, payment methods, and product handling. Evaluate your understanding of purchasing and sales processes within the business environment.

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